US and UK Collaborate on Crypto Regulation Sandbox
- Lisa Cameron, former UK MP, indicates a joint regulatory “sandbox” is in development between the US and UK.
- The sandbox aims to facilitate “passporting” of crypto licenses across both countries.
- The Bank of England recently proposed a regulatory framework for stablecoins, similar to the US’s GENIUS Act.
- A transatlantic task force has been established to explore collaboration on digital assets between the two nations.
- Cameron expressed concern that the UK risks losing crypto businesses to more supportive jurisdictions.
The proposed sandbox reflects growing momentum in crypto regulation within the UK, as both countries seek clarity and cooperation in the evolving digital asset landscape.
Cameron emphasized that timely action is crucial for the UK to retain its competitive edge in crypto, especially with recent proposals like stablecoin regulations and international collaborations underway. (Source)
